AmBase Corporation announced that it has entered into 7% senior promissory note with returning lender, Richard A. Bianco for the gross proceeds of $10,000 in February 26, 2024. The promissory note is due on the earlier of the date the company receives funds from any source, sufficient to pay all amounts due under this this Note, including all accrued interest thereon, including without limitation, from a settlement of the 111 West 57 the legal proceedings or February 28, 2026. The securities, debt securities, loans, or any combination thereof.

any sale of securities by the company may not be offered or sold absent registration under the Securities Act of 1933, as amended (the ?Act?). The company and . R. A. Bianco further agreed that amounts due pursuant to the promissory note plus interest can be converted by R. A. Bianco, at his option, into a litigation funding agreement pari-pasu with any litigation funding agreement entered into by the company with a litigation funding entity.